A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or refurbishment of defective equipment/units. Spare parts are an important feature of logistics engineering and supply chain management, often comprising dedicated spare parts management systems.

Spare parts are an outgrowth of the industrial development of interchangeable parts and mass production.

In an industrial environment, spare parts are described in several manner to distinguish key features of various spare parts. The following describes spare part types and their typically functionality.

1. Capital parts are spare parts which, although acknowledged to have a long life or a small chance of failure, would cause a long shutdown of equipment because it would take a long time to get a replacement for them. Capital parts are typically repaired or replaced during planned overhauls/scheduled inspections. As description implies, these Capital Parts are typically expensive and are depreciated over time.

Examples of capital parts include pumps and motor sets used in industrial plants, or impeller or a rotor required for a pump or motor. This “spare” requirement would be determined by redundancy of equipment used in the industrial processes.

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